v3.25.2
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table presents the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented.
(in thousands)Fair Value Measurements Using
Measured at Fair Value on a Recurring Basis:TotalLevel 1Level 2Level 3
June 30, 2025
U.S. Treasury securities$16,920 $— $16,920 $— 
U.S. government agency securities4,701 — 4,701 — 
State, county and municipals273,956 — 273,189 767 
Mortgage-backed securities473,302 — 473,302 — 
Corporate debt securities80,374 — 74,576 5,798 
Securities AFS
$849,253 $— $842,688 $6,565 
Other investments (equity securities)$8,456 $8,456 $— $— 
Derivative assets$952 $— $394 $558 
Derivative liabilities$558 $— $394 $164 
December 31, 2024
U.S. Treasury securities$14,028 $— $14,028 $— 
U.S. government agency securities5,520 — 5,520 — 
State, county and municipals284,703 — 283,773 930 
Mortgage-backed securities421,953 — 421,027 926 
Corporate debt securities80,211 — 74,442 5,769 
Securities AFS
$806,415 $— $798,790 $7,625 
Other investments (equity securities)$8,610 $8,610 $— $— 
Derivative assets$160 $— $71 $89 
Derivative liabilities$71 $— $71 $— 
Schedule of Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis
The following table presents the changes in Level 3 securities AFS measured at fair value on a recurring basis.
(in thousands)Six Months EndedYear Ended
Level 3 Fair Value Measurements:June 30, 2025December 31, 2024
Balance at beginning of year$7,625 $6,063 
Transfer in— 2,004 
Maturities / Paydowns(1,054)(527)
Unrealized gain / (loss)(6)85 
Balance at end of period$6,565 $7,625 
Schedule of Assets Measured at Fair Value on a Nonrecurring Basis
The following table presents the Company’s assets measured at fair value on a nonrecurring basis, aggregated by level in the fair value hierarchy within which those measurements fall.
(in thousands)Fair Value Measurements Using
Measured at Fair Value on a Nonrecurring Basis:TotalLevel 1Level 2Level 3
June 30, 2025
Collateral dependent loans$23,290 $— $— $23,290 
MSR asset (disclosure)16,274 — — 16,274 
December 31, 2024
Collateral dependent loans$22,207 $— $— $22,207 
MSR asset (disclosure)17,182 — — 17,182 
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments
The carrying amounts and estimated fair values of the Company’s financial instruments are shown below.
June 30, 2025
(in thousands)Carrying
Amount		Estimated
Fair Value		Level 1Level 2Level 3
Financial assets:
Cash and cash equivalents$422,638 $422,638 $422,638 $— $— 
Securities AFS849,253 849,253 — 842,688 6,565 
Other investments, including equity securities59,594 59,585 8,456 41,670 9,459 
Loans held for sale9,955 10,244 — 10,244 — 
Loans, net6,770,733 6,609,953 — — 6,609,953 
MSR asset12,032 16,274 — — 16,274 
LSR asset6,010 6,010 — — 6,010 
Accrued interest receivable26,788 26,788 26,788 — — 
Financial liabilities:
Deposits$7,541,673 $7,545,140 $— $— $7,545,140 
Long-term borrowings134,340 126,785 — — 126,785 
Accrued interest payable8,800 8,800 8,800 — — 
December 31, 2024
(in thousands)Carrying
Amount		Estimated
Fair Value		Level 1Level 2Level 3
Financial assets:
Cash and cash equivalents$536,047 $536,047 $536,047 $— $— 
Securities AFS806,415 806,415 — 798,790 7,625 
Other investments62,125 62,114 8,610 45,197 8,307 
Loans held for sale7,637 7,778 — 7,778 — 
Loans, net6,560,262 6,300,325 — — 6,300,325 
MSR asset11,965 17,182 — — 17,182 
LSR asset6,869 6,869 — — 6,869 
Accrued interest receivable25,033 25,033 25,033 — — 
Financial liabilities:
Deposits$7,403,684 $7,402,589 $— $— $7,402,589 
Long-term borrowings161,387 148,900 — 4,969 143,931 
Accrued interest payable7,774 7,774 7,774 — —